What's the difference between a Medicare broker and a Medicare agent?

Question

Lea Ayres · Accepted Answer

The main difference between a Medicare broker and a Medicare agent is that brokers represent multiple insurance companies and can present a broader range of Medicare plans, while agents typically represent one insurance company and offer a more limited selection of plans.

Answered by Lea Ayres on March 12, 2025

Broker Licensed in PA, CT, MD & 8 other states

Answered by Lea Ayres Medicare Insurance Agent

William Lawler · Answer

While an agent may be captive and only represent one health care company, a Medicare broker represents many different health care companies, and therefore, a broker can find you the best plan to fit your needs.

Answered by William Lawler on March 29, 2025

Broker Licensed in MO, FL, IA & 12 other states

Answered by William Lawler Medicare Insurance Agent

Bryan Smith · Answer

There really isn't difference, the main thing to know is that your Agent/Broker does not work for 1 specific insurance company. That way there is no bias in the plan offerings.

Vincent Esposito · Answer

Medicare brokers usually can show prospects different options.  A insurance company medicare agent will only explain to members the plans that the company sells.

Shawn Brown · Answer

A broker represents multiple and, in some cases, all carriers, while an agent only represents one carrier. A broker is generally only paid commissions by the carrier they assist the client they've enroll in while an agent traditionally is paid a salary plus commissions.

Answered by Shawn Brown on March 27, 2025

Broker Licensed in FL, AL, CO & 7 other states

Answered by Shawn Brown Medicare Insurance Agent

John Henley · Answer

Typically, a broker owns a small insurance company that may also produce, and an agent is usually a producer who works for the broker or the brokerage company.

Norman Smith · Answer

A broker works with several companies to provide options for you.
An agent is an individual who may be captive to 1 company and sell you on their plans.

John L Herman Jr · Answer

A Licensed Agent may work for just ONE INSURANCE CARRIER…perhaps CIGNA, AETNA, HUMANA, CAREFIRST, UNITED HEALTHCARE…and therefore be predisposed to advise you that his or her company has the best Plan for the client.

An Independent Broker is someone who can be “appointed” by all of the Insurance Carriers and therefore be in the best position to advise the client.  An Independent Broker guides the client to the best Plan that fits their budget, their health situation, their risk level, which Doctors the client sees, and even which Pharmacies the client uses.

Steve Houchens · Answer

An agent typically represents only one company while a broker represents multiple companies giving you a broader range of products to choose from

Michael Pyers · Answer

Agents normally only contract and represent only one carrier.
Brokers handle more plans and give you more options.

Using the Medicare Name is not permitted, especially if you represent yourself as being a representative of Medicare.

Ginger Gibbs · Answer

Mostly they are the same thing - but a Medicare agent typically only represents one or two carriers, when a broker contracts with many more carriers and doesn't work/sell for only one specific carrier.

Answered by Ginger Gibbs on March 31, 2025

Broker Licensed in NV, AZ, CA & 14 other states

Answered by Ginger Gibbs Medicare Insurance Agent

Marisol Torres · Answer

Medicare broker- respresents multiple insurance carriers. Medicare agent- same but may be more limited.

What's the difference between a Medicare broker and a Medicare agent?

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What's the difference between a Medicare broker and a Medicare agent?

Agents: Share Your Expertise

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A non-government resource website